OBJECTIVE:
Misstatements in the financial statements can arise from fraud or error. The distinguishing factor between fraud and error is whether the underlying action that results in the misstatement is intentional or unintentional. As fraud is intentional and involves schemes designed to hide misstatement, the risk of not detecting a material misstatement resulting from fraud is higher than the risk of not detecting one resulting from error. The courses will help participants will identify the auditor’s responsibilities related to fraud and apply the standards when designing and performing procedures for audit engagements.  

WHO WILL BENEFIT: 
Practitioners in public practice who want to improve their ability to identify and assess the risk of fraud as well as strengthen the work performed and documented in the assurance files to help them meet their responsibilities related to fraud in an efficient and effective manner.

LEARNING OUTCOMES:
The course will assist practitioners with outlining fraud responsibilities in the context of an audit and help the auditor apply the standards in their assurance engagements to meet the objectives in a practical and efficient manner. 

By the end of the course, participants will be able to: 

• recognize fraud risk factors,
• identify and assess the risk of material misstatement of the financial statements due to fraud (Risk Assessment Procedures),
• design appropriate audit procedures to address the risk of fraud,
• perform required procedures including journal entry testing,
• implement unpredictability procedures into the engagement,
• assess the results of procedures performed, and 
• respond appropriately to fraud or suspected fraud identified during the audit.

COURSE LEADER: KIRSTEN ALBO, FCPA, FCA